Elected Miami Beach officials, anxious to recruit corporate residents to its eight-mile-long oceanfront community, had offered a $720,000 incentive package to the 33-year-old developer/investor to relocate its headquarters from the West Miami-Dade submarket.
At the last minute, however, the city's finance committee revised its newly packaged bonus plan to exclude companies that had already leased space in the area.
LNR jointly developed its eight-story, 111,000-sf building with Joe Comras of the Comras Co. and developer Scott Robins on city-owned land in exchange for operating public garages to ease the city's shortage of parking spaces.
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